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dakotapin
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How can I correct a failure to take a RMD on an IRA account?

For the 2017 and 2018 tax return I forgot to request a RMD from the IRA.  For 2019 I already requested the RMD along with a value for 2018. How do I correct the failure on my tax return?
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dakotapin
New Member

How can I correct a failure to take a RMD on an IRA account?

In my case I failed to take an RMD for 2017 and 2018. On realizing this I took the RMD for 2018 along with that for 2019. Now how do I report on my tax return for 2018. Form 5329 does not seem to apply

How can I correct a failure to take a RMD on an IRA account?

When you took the RMD in 2019 that was first for 2017, then for 2018, so you still have to take RMD for 2019.

You have to file an Amended return for 2017 and attach a 5329 for wavier of that RMD penalty and one for 2018 for RMD penalty.

This is part IX right towards the end.  

How can I correct a failure to take a RMD on an IRA account?

For the 2018 return you complete a Form 5329, and ask for a waiver of the penalty.

I assume the 2017 RMD was taken in 2018 and the waiver requested on the 2017 return.

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